Buzzing stock: Suzlon Energy spikes on entry into Clean200 list and credit rating upgradation

Suzlon Energy has made it to the latest Clean200 list, featuring the world’s largest publicly traded companies making significant revenue from clean energy. Six other Indian companies have also managed to make it to the Clean200 list. Suzlon Energy has attained the 55th rank in this top 200 companies’ list.

The Clean200 list includes only those companies with over USD 1 billion of market capitalisation (at the end of Q32017) and those that earn more than 10% of total revenues from new energy sources.

On Friday, Suzlon Group, India’s largest renewable energy solutions provider, announced that Suzlon Global Services Limited (SGSL), its wholly-owned subsidiary, has received an upgrade to its credit rating for proposed long-term bank facilities to A (Provisional) credit rating with stable outlook. CARE ‘A’ ratings are considered to have adequate degree of safety regarding timely servicing of financial obligations, carrying low credit risk.

Suzlon Energy’s scrip closed at Rs 16.35 on Thursday. Today it opened at Rs 16.50 and touched intra-day high of Rs 16.80 in the morning session, showing an upside of 2.75%.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 18 countries in Asia, Australia, Europe, Africa, and North and South America. It has a cumulative installation of approximately 17 GW of wind energy capacity. Suzlon is the only Indian wind energy company with a large in‐house research and development (R&D) set‐up in Germany, the Netherlands, Denmark and India.